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Federal Reserve System

Federal Reserve System
The Federal Reserve System (also known as the Federal Reserve, and informally as the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907.[2][3][4][5][6][7] Over time, the roles and responsibilities of the Federal Reserve System have expanded, and its structure has evolved.[3][8] Events such as the Great Depression were major factors leading to changes in the system.[9] The U.S. The authority of the Federal Reserve System is derived from statutes enacted by the U.S. Congress and the System is subject to congressional oversight. The members of the Board of Governors, including its chair and vice-chair, are chosen by the President and confirmed by the Senate. Purpose[edit] Current functions of the Federal Reserve System include:[12][25] Addressing the problem of bank panics[edit] Elastic currency[edit]

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Conflict of interest The presence of a conflict of interest is independent of the occurrence of impropriety. Therefore, a conflict of interest can be discovered and voluntarily defused before any corruption occurs. A widely used definition is: "A conflict of interest is a set of circumstances that creates a risk that professional judgement or actions regarding a primary interest will be unduly influenced by a secondary interest. Cancer Cancer The causes of cancer are diverse, complex, and only partially understood. Many things are known to increase the risk of cancer, including tobacco use, dietary factors, certain infections, exposure to radiation, lack of physical activity, obesity, and environmental pollutants.[2] These factors can directly damage genes or combine with existing genetic faults within cells to cause cancerous mutations.[3] Approximately 5–10% of cancers can be traced directly to inherited genetic defects.[4] Many cancers could be prevented by not smoking, eating more vegetables, fruits and whole grains, eating less meat and refined carbohydrates, maintaining a healthy weight, exercising, minimizing sunlight exposure, and being vaccinated against some infectious diseases.[2][5] Cancer can be detected in a number of ways, including the presence of certain signs and symptoms, screening tests, or medical imaging. Definitions

Randolph Bourne Randolph Bourne Randolph Silliman Bourne (May 30, 1886 – December 22, 1918) was a progressive writer and "leftist intellectual"[1] born in Bloomfield, New Jersey, and a graduate of Columbia University. Bourne is best known for his essays, especially his unfinished work "The State," discovered after his death.

Fractional-reserve banking Fractional-reserve banking is the practice whereby a bank holds reserves in an amount equal to only a portion of the amount of its customers' deposits to satisfy potential demands for withdrawals. Reserves are held at the bank as currency, or as deposits reflected in the bank's accounts at the central bank. Because bank deposits are usually considered money in their own right, fractional-reserve banking permits the money supply to grow to a multiple (called the money multiplier) of the underlying reserves of base money originally created by the central bank.[1][2] Fractional-reserve banking is the current form of banking in all countries worldwide.[3] History[edit]

Trilateral Commission The Trilateral Commission is a non-governmental, non-partisan discussion group founded by David Rockefeller[1] in July 1973, to foster closer cooperation among North America, Western Europe, and Japan. History[edit] Founding[edit] Sensing a profound discord among the nations of North America, Europe and Japan, the Trilateral Commission was founded to foster substantive political and economic dialogue across the world. Profit (economics) In neoclassical microeconomic theory, the term profit has two related but distinct meanings. Economic profit is similar to accounting profit but smaller because it reflects the total opportunity costs (both explicit and implicit) of a venture to an investor.[1] Normal profit refers to a situation in which the economic profit is zero.[2] A related concept, sometimes considered synonymous to profit in certain contexts, is that of economic rent. In Classical economics and Marxian economics, profit is the return to an owner of capital goods or natural resources in any productive pursuit involving labor, or a return on bonds and money invested in capital markets.[3] By extension, in Marxian economic theory, the maximization of profit corresponds to the accumulation of capital, which is the driving force behind economic activity within the capitalist mode of production. Related concepts include profitability and the profit motive. Profitability is a term of economic efficiency.

Water fluoridation controversy The water fluoridation controversy arises from political, moral, ethical,[1] and safety concerns regarding the fluoridation of public water supplies. The controversy occurs mainly in English-speaking countries, as Continental Europe has ceased water fluoridation.[2] Those opposed argue that water fluoridation may cause serious health problems, is not effective enough to justify the costs, and has a dosage that cannot be precisely controlled.[3][4][5] In some countries, fluoride is added to table salt.[6] At the dosage recommended for water fluoridation, the only known adverse effect is dental fluorosis, which can alter the appearance of children's teeth during tooth development.[7] Dental fluorosis is cosmetic and unlikely to represent any other effect on public health.[8] Despite opponents' concerns, water fluoridation has been effective at reducing cavities in both children and adults.[7]

Part 1 of the unfinished essay: "The State" - The State "War is the Health of the State" by Randolph Bourne (1918) To most Americans of the classes which consider themselves significant the war [World War I] brought a sense of the sanctity of the State which, if they had had time to think about it, would have seemed a sudden and surprising alteration in their habits of thought. In times of peace, we usually ignore the State in favour of partisan political controversies, or personal struggles for office, or the pursuit of party policies.

History of Fiat Money In a fiat money system, money is not backed by a physical commodity (i.e.: gold). Instead, the only thing that gives the money value is its relative scarcity and the faith placed in it by the people that use it. A good primer on the history of fiat money in the US can be found in a video provided by the website. In a fiat monetary system, there is no restrain on the amount of money that can be created. This allows unlimited credit creation. Initially, a rapid growth in the availability of credit is often mistaken for economic growth, as spending and business profits grow and frequently there is a rapid growth in equity prices.

Council on Foreign Relations The Council on Foreign Relations (CFR) is an American nonprofit, nonpartisan membership organization, publisher, and think tank specializing in U.S. foreign policy and international affairs. The CFR is considered to be the nation's "most influential foreign-policy think tank".[1] Its membership has included senior politicians, more than a dozen Secretaries of State, CIA directors, bankers, lawyers, professors, and senior media figures. The CFR regularly convenes meetings at which government officials, global business leaders and prominent members of the intelligence/foreign-policy community discuss major international issues. The CFR was founded in 1921 and is headquartered in New York City, with an additional office in Washington, D.C.. History[edit] Origins[edit]

Monsanto Founded in 1901 by John Francis Queeny, by the 1940s Monsanto was a major producer of plastics, including polystyrene and synthetic fibers. Notable achievements by Monsanto and its scientists as a chemical company included breakthrough research on catalytic asymmetric hydrogenation and being the first company to mass-produce light emitting diodes (LEDs). The company also formerly manufactured controversial products such as the insecticide DDT, PCBs, Agent Orange, and recombinant bovine somatotropin (a.k.a. bovine growth hormone).

War Is the Health of the State (Randolph Bourne) To most Americans of the classes which consider themselves significant the war [World War I] brought a sense of the sanctity of the State which, if they had had time to think about it, would have seemed a sudden and surprising alteration in their habits of thought. In times of peace, we usually ignore the State in favor of partisan political controversies, or personal struggles for office, or the pursuit of party policies. It is the Government rather than the State with which the politically minded are concerned.